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SUI Faces Critical Test as Price Dips 5.83% to $1.34 Amid Rising TVL and Descending Channel Pressure
SUI Faces Critical Test as Price Dips 5.83% to $1.34 Amid Rising TVL and Descending Channel Pressure
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[TRADE_PLUGIN]SUIUSDT,SUIUSDT[/TRADE_PLUGIN]
SUI News -
SUI's price action has turned turbulent as selling pressure mounted, with the token sliding 5.83% to $1.34. The market capitalization now stands at $5.12 billion—a notable discount to its $13.5 billion fully diluted valuation. Analysts are eyeing descending channel dynamics as accumulation patterns emerge NEAR critical trendlines.
Technical strategist Butterfly notes sui is testing the lower boundary of a two-day chart formation. A successful hold could catalyze a rally toward $4, while failure risks accelerating the downside. The RSI breakdown signals weakening momentum, with Umair Crypto highlighting a pivotal liquidity pocket below $1.32 that may determine the near-term direction.
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